Mckinley Capital Management LLC Delaware raised its stake in Sony Corp (NYSE:SNE) by 22.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,678 shares of the company’s stock after acquiring an additional 5,733 shares during the period. Mckinley Capital Management LLC Delaware’s holdings in Sony were worth $1,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Eagle Asset Management Inc. boosted its stake in Sony by 28.8% in the third quarter. Eagle Asset Management Inc. now owns 13,040 shares of the company’s stock valued at $486,000 after acquiring an additional 2,915 shares in the last quarter. NorthCoast Asset Management LLC boosted its stake in Sony by 54.1% in the third quarter. NorthCoast Asset Management LLC now owns 73,682 shares of the company’s stock valued at $2,751,000 after acquiring an additional 25,857 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new position in Sony in the third quarter valued at $1,240,000. D.A. Davidson & CO. boosted its stake in Sony by 1.8% in the third quarter. D.A. Davidson & CO. now owns 109,104 shares of the company’s stock valued at $4,073,000 after acquiring an additional 1,947 shares in the last quarter. Finally, Systematic Financial Management LP boosted its stake in Sony by 28.9% in the third quarter. Systematic Financial Management LP now owns 33,014 shares of the company’s stock valued at $1,233,000 after acquiring an additional 7,397 shares in the last quarter. Institutional investors own 6.78% of the company’s stock.
Shares of Sony Corp (SNE) traded down $1.24 during trading hours on Friday, hitting $45.56. 2,193,249 shares of the stock were exchanged, compared to its average volume of 873,000. Sony Corp has a 1-year low of $27.72 and a 1-year high of $48.33. The company has a quick ratio of 0.71, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $59,134.47, a PE ratio of 26.29 and a beta of 1.78.
Several equities analysts have issued reports on SNE shares. Jefferies Group restated a “buy” rating and issued a $59.84 price objective on shares of Sony in a research note on Friday, November 17th. Morgan Stanley cut shares of Sony from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 11th. Zacks Investment Research cut shares of Sony from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Credit Suisse Group cut shares of Sony from an “outperform” rating to a “neutral” rating in a report on Tuesday, September 19th. Finally, Citigroup cut shares of Sony from a “buy” rating to a “neutral” rating and reduced their target price for the company from $40.60 to $39.93 in a report on Monday, September 11th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $46.94.
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Sony Corporation (Sony) is engaged in the development, design, manufacture and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets, as well as game consoles and software. The Company’s segments include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Devices, Pictures, Music, Financial Services and All Other.
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